29 Jun Question The standard costs and actual costs fo
Question
The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows:
Standard Costs
Direct materials 2,500 kilograms @ $8
Actual Costs
Direct materials 2,600 kilograms @ $8.75
The amount of the direct materials quantity variance is:
2. The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows:
Standard Costs
Direct materials (per completed unit) 1.04 kilograms @$8.75
Actual Costs
Direct materials 2,500 kilograms @ $8
The amount of direct materials price variance is:
3. McCabe Manufacturing Co.’s static budget at 8,000 units of production includes $40,000 for direct labor and $4,000 for electric power. Total fixed costs are $23,000. At 9,000 units of production, a flexible budget would show:
4.O’Neill Co. has $296,000 in accounts receivable on January 1. Budgeted sales for January are $860,000. O’Neill expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are:
5. If fixed costs are $561,000 and the unit contribution margin is $8.00, what is the break-even point in units if variable costs are decreased by $.50 a unit?
6. If fixed costs are $300,000 and the unit contribution margin is $5, what amount of units must be sold in order to realize an operating income of $50,000?
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